EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 16, 2017

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Published: Oct 16, 2017, 09:50 UTC

EUR/USD The pair was extremely volatile during the Friday's session, initially drifting lower but shot higher later in the day towards the 1.19 level

Forex Trading Signals - October 05, 2017

EUR/USD

The pair was extremely volatile during the Friday’s session, initially drifting lower but shot higher later in the day towards the 1.19 level after the weak set of CPI data from the US hit the market. The break above 1.19 level will send this market higher towards the 1.20 level and above. Currently, the short-term floor in the market is believed to be at 1.18 level and any correction in this market continues to offer buying opportunities. …Read More

GBP/USD

The pair traded with an upward proclivity during the Friday’s session reaching towards the 1.3350 level but it fell a little from there only to find support at the 1.3275 level underneath. The market is trading with a bullish sentiment and is expected to reach the psychological level of 1.3650 in next few couple of session. The market is likely to be volatile as it moves ahead and any pullback in the market should be bought in, as the market is expected to gain value due to Bank of England raising interest rates relatively soon. …Read More

AUD/USD

The pair shot higher towards the 0.79 level in Friday’s session, after the weak CPI data from the US helped gold markets to rally. The market has plenty of support underneath and any pullback from here will be a good buying opportunity. A breakout above 0.79 level will be a positive for the market and will send this market higher towards the 0.80 level which is an important psychological level going back to decades. …Read More

USD/JPY

The USD drifted lower below the 112 handle against JPY in the Friday’s session, as the less impressive CPI data from the US pulled the market lower. If the market continues to make a fresh new low, then the market will go down to the 111-level underneath which is also a major support region. A break above 112.50 level will be a good sign for the market and will send the market higher towards the 114.50 level. The pair is very sensitive to global macro events and traders should keep an eye on the market’s movement. …Read More

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Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.